The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday July 18, 2016:
SoftBank to Acquire ARM Holdings for ~$32B
The Offer:
SoftBank Group Corp. (OTC: SFTBY) and ARM Holdings plc
(NASDAQ: ARMH) announced Monday, that they have reached
agreement on the terms of a recommended all cash by SoftBank of 1,700 pence per UK share or approximately $67.26 per U.S. ADR. The
consideration values the entire existing issued and to be issued share capital of ARM at approximately £24.3 billion (approximately
$32 billion).
ARM Holdings closed at $66.17 on Monday, up 40.55%.
Hearing Dealreporter Says Tronox May Explore Sale
The Rumor:
Shares of Tronox (NASDAQ: TROX) rose Monday on a report from
DealReporter that the company was exploring a sale. Tronox did not respond to a request for comment.
Tronox closed at $7.02 on Monday, up 4.78%.
Smith & Wesson Reports Battenfeld Technologies Unit to Buy Taylor Brands for $85M in Cash
The Deal:
On July 15, 2016, Smith & Wesson (NYSE: SWHC) subsidiary, BTI
Tools entered into an asset purchase agreement with Taylor Brands to acquire substantially all of the assets of Taylor for $85
million in cash. The Transaction is expected to close in August.
Smith & Wesson closed Monday at $28.78, up 1.52%.
Hearing Unconfirmed Takeover Chatter in Hartford Financial Involving Travelers
The Rumor:
Shares of Hartford Financial (NYSE: HIG) spiked to the high of
the day of $44.39, following unconfirmed market chatter of a potential bid from Travelers Companies (NYSE: TRV). A similar report surfaced in August 2015.
Hartford closed Monday at $43.74, down $0.01.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.